{
  "id": 18258098,
  "title": "How other countries tax crypto gains",
  "url": "https://urgent.news/2026/11/05/how-other-countries-tax-crypto-gains",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-11-05T06:02:04.000Z",
  "source": {
    "name": "The Korea Times",
    "slug": "the-korea-times-koreatimes",
    "url": "https://www.koreatimes.co.kr/economy/cryptocurrency/20261105/how-other-countries-tax-crypto-gains"
  },
  "original_language": "en",
  "account": "Major countries such as the United States, Britain, Canada, and Japan have their own unique approaches to taxing cryptocurrency gains.\n\nIn the United States, cryptocurrencies are considered property, leading to different tax rates based on the holding period. Profits from assets held for a year or less are subject to ordinary federal income tax rates, ranging from 10 to 37 percent. However, gains on assets held longer than a year are taxed at lower rates, at a maximum of 20 percent, depending on the individual's income.\n\nBritain imposes capital gains tax at rates of 18 or 24 percent, depending on the individual's income. Taxpayers are also allowed a tax-free allowance of 3,000 pounds per person per year for capital gains. Additional taxes and levies may apply at the state level.\n\nCanada classifies trading profits in cryptocurrency as either capital gains or business income. For capital gains, only half of the profit is included in taxable income. The country does not have a specific tax-free allowance, but it allows for a deduction of any business expenses related to the trade.\n\nJapan generally treats cryptocurrency profits as miscellaneous income, combining them with other earnings. The country applies a maximum combined income and resident tax rate of approximately 55 percent on these profits. Japan is currently exploring the possibility of introducing a separate cryptocurrency-specific tax.",
  "summary": "Major economies, including the United States and Britain, already tax cryptocurrency investment gains, though rates and allowances vary depending on holding periods, income levels and the nature of transactions. In the United States, cryptocurrencies are treated as property. Profits from assets held for a year or less are taxed at ordinary federal income tax rates ranging from 10 to 37 percent,…",
  "key_points": [
    "Britain imposes capital gains tax of 18-24%, with a £3,000 tax-free allowance per person.",
    "Canada treats crypto profits as either capital gains or business income, with half of gains taxed."
  ],
  "editors_take": "The divergent methods used by major nations to categorize digital assets reflect a global struggle to reconcile cryptocurrency profits with existing frameworks for property, business income, and miscellaneous earnings.",
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}